Tuesday, August 26, 2008

BVI company China Natural Resources announced entering into an agreement with Feishang Group Limited – a related party from which the company had acquired the Coal Group with its wholly-owned subsidiaries, for the total price of US$25 mln. By the terms of the agreement signed on August 11, the BVI company agreed to acquire from the Feishang Group all of the issued and outstanding capital stock of Newhold Investments Limited and its wholly-owned subsidiaries, and the outstanding indebtedness of the Coal Group to the to the Feishang Group.